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The spot rate for one Australian dollar is US $0.92685 and the 60-day forward rate is US $0.92773. Which one of the following statements is consistent with these facts? A. The U.S. dollar is trading at a forward discount with respect to the Australian dollar. B. The U.S. dollar is trading at a forward premium with respect to the Australian dollar. C. The U.S. dollar has lost purchasing power with respect to the Australian dollar. D. The U.S. dollar has gained purchasing power with respect to the Australian dollar. |